The General Council of Islamic Banks and Financial Institutions (CIBAFI), the Participation Banks Association of Türkiye (TKBB) and Istanbul Commerce University have signed a comprehensive Memorandum of Understanding (MoU) to foster innovation, research and development in the field of participation finance both in Türkiye and globally.

The strategic partnership was formalised with a protocol signed by Dr. Abdelilah Belatik, Secretary General of CIBAFI, Fatma Çınar, Deputy Secretary General of the TKBB, Prof. Dr. Necdet Şensoy, Director of Istanbul Commerce University Islamic Economics and Economic Systems Research Centre, and Dr. Osman Altay, Director of Istanbul Commerce University Continuing Education Centre at the TKBB headquarters. This cooperation aims to carry out joint studies in the fields of education, research, sectoral development and professional capacity building.

Dr. Abdelilah Belatik emphasized, "This MoU reflects CIBAFI's commitment to fostering strategic partnerships that advance the Islamic financial services industry. Through this collaboration, we will drive innovation, enhance professional capabilities, and develop impactful initiatives that strengthen participation finance globally."

TKBB Deputy Secretary General Fatma Çınar highlighted, "This partnership represents a comprehensive approach to responding the dynamic needs of our sector. By bringing together our strengths in sectoral expertise, academic research and professional development, we are building new opportunities for sustainable growth in participation finance."

Prof. Dr. Necdet Şensoy, Director of the Islamic Economics and Economic Systems Research Centre at Istanbul Commerce University commented, "Our cooperation will create a strong platform for the exchange of information between academia and the industry. Together, we will develop forward-looking solutions that meet the evolving demands of the global participation finance sector."

The partnership covers many areas of cooperation, including professional development programmes, joint research initiatives, industry-academia collaboration, policy advocacy and market development activities.